With March behind us we can see how the asking rates have trended. Within the top 25 markets looking at the REITs pricing data. The average price per square foot for 10x10 CC units for the month of March 2024 came out to $1.20. Which was over an 18% decrease compared to the asking rates in March 2023 which came out to $1.48.
This continues the trend of the REIT facilities lowering asking rates to control the prices in the market, while also maintaining high occupancy levels for its facilities.
*Average price per square foot data based on 10x10CC REIT data within the top 25 markets
Check out previous months recap:
